Post Office: Subsidies
(asked on 1st February 2024) - View Source
Question to the Department for Business and Trade:
To ask His Majesty's Government how much they have given to the Post Office in subsidies in each of the years since 2000.
Answered by
Lord Offord of Garvel
Parliamentary Under Secretary of State (Department for Business and Trade)
The Postal Services Act 2011 established Post Office Limited as a company independent of Royal Mail Group. The following table sets out the subsidies awarded by Government to Post Office Limited since the 2011/12 Financial Year. The funding covers annual network subsidy payments, investment funding and from 2021/22 funding for Horizon compensation payments.
Financial Year | Total (£m) |
2011/12 | 180 |
2012/13 | 410 |
2013/14 | 415 |
2014/15 | 330 |
2015/16 | 280 |
2016/17 | 220 |
2017/18 | 140 |
2018/19 | 228 |
2019/20 | 92 |
2020/21 | 50 |
2021/22 | 233 (of which £52m was a commercial loan) |
2022/23 | 137 |